Frauscher declines state-company board seats as ÖVP changes course

Incoming Upper Austrian economic councillor Christiane Frauscher will not take supervisory board seats at companies in which the state holds a stake, ORF reported. Governor Thomas Stelzer said the ÖVP wanted to separate politics from corporate oversight.

The party says eight supervisory board seats must now be filled, with experts expected to take them. Some appointments are being prepared, but no names have been announced. The changes are due to be completed by the end of the year, subject to the companies’ general meetings.

Frauscher will remain on the supervisory board of the Upper Austrian state holding company, which manages the state’s investments.

The change does not mean the ÖVP is withdrawing from all state-backed companies. Party members still sit on boards including those of the health holding company, the thermal spa holding company and Lawog.

Stelzer called the move a possible model for other parties. The Energy AG Upper Austria board also includes politicians from the Freedom Party and the Social Democrats, as well as a political staff member from the Greens.

Tags: Upper Austria, ÖVP, corporate governance